SPDR Energy (XLE) s trading up 61 cents to $75.49 after crude recaptured $110 in electronic trading late-Thursday on reports of a Saudi pipeline fire. Afternoon options trades on XLE include a three-way, in which the strategist sold March 72.5 puts to buy a Mar 76 – 79 (1X2) call ratio spread, paying 31 cents for the package, 20000X. The bullish play is tied to 880K shares at $75.65. 89,000 calls and 37,000 puts now traded on the energy ETF, which is 2.5X the daily average for the product.
Category: All ETFs
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.